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HomeMy WebLinkAbout2016-2017 Townlake Budget - Revised 6-29-16Town LakeAustin, TX 787412016-2017 Town Lake Budget216 = Units$0648 = Beds208,080 = Sq FtG/L2016-2017Cost per Cost perCodesSep-16Oct-16Nov-16Dec-16Jan-17Feb-17Mar-17Apr-17May-17Jun-17Jul-17Aug-17ForecastBedUnitProjected Beds-->635 638 640 642 640 642 644 644 640 638 638 638 OCCUPANCY %97.99%98.46%98.77%99.07%98.77%99.07%99.38%99.38%98.77%98.46%98.46%98.46%98.75%OPERATING INCOMEGross Potential RentGross Market Rent5005-0000302,940 302,940 302,940 302,940 302,940 302,940 302,940 302,940 302,940 302,940 302,940 302,940 3,635,280 5,610 16,830 Contract Gain (Loss) to Lease5010-00002,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 28,800 44 133 Total Gross Potential Rent305,340 305,340 305,340 305,340 305,340 305,340 305,340 305,340 305,340 305,340 305,340 305,340 3,664,080 5,654 16,963 Economic VariancesConcessions - New Leases5030-0200(14,000) (14,000) (14,000) (14,000) (14,000) (14,000) (14,000) (14,000) (14,000) (14,000) - - (140,000) (216) (648) Concessions - Renewals5030-0400(8,622) (8,622) (8,622) (8,622) (8,622) (8,622) (8,622) (8,622) (8,622) (8,622) (29,622) (29,622) (145,464) (224) (673) Employee Units5045-0000(3,843) (3,843) (3,843) (3,843) (3,843) (3,843) (3,843) (3,843) (3,843) (3,843) (3,843) (3,843) (46,116) (71) (214) Model Units5055-0000- - - - - - - - - - - - - - - Bad Debt5025-0000(182) - (757) - (1,818) (909) (909) (909) (3,029) (1,515) (3,029) (10,603) (23,660) (37) (110) Vacancy Loss5065-0000(6,078) (4,675) (3,740) (2,805) (3,740) (2,805) (1,870) (1,870) (3,740) (4,675) (4,675) (4,675) (45,348) (70) (210) Total Economic Variances(32,724) (31,140) (30,962) (29,270) (32,023) (30,179) (29,244) (29,244) (33,234) (32,655) (41,169) (48,743) (400,587) (618) (1,855) 89.20% 89.72% 89.78% 90.34% 89.43% 90.04% 90.35% 90.35% 89.03% 89.22% 86.41% 83.91% 88.98%NET RENTAL INCOME272,616 274,200 274,378 276,070 273,317 275,161 276,096 276,096 272,106 272,685 264,171 $256,597$3,263,493$5,036$15,10989.1%Other Operating IncomeAccelerated Rent5205-0000- - - - - - - - - - - - - - - Administrative Fees5210-000025 25 25 25 25 25 25 25 25 25 25 25 300 0 1 Application Fees5220-0000- - - - - - - - - - - - - - - Bad Debt Recovery 5225-0000 - - - - - - - - - - - - - - - Clubhouse Rental5240-0000- - - - - - - - - - - - - - - Damages Income5260-00006,272 516 550 (27) 500 200 200 200 1,000 300 500 5,000 15,211 23 70 Deposit Forfeitures5265-0000- - - - - - - - - - - - - - - Carport/Garages/Parking Income5235-00001,305 1,305 1,305 1,305 1,305 1,305 1,305 1,305 1,305 1,305 1,305 1,305 15,660 24 73 Key & Access Card Income5290-0000- - - - - - - - - - - - - - - Legal & Collections5310-0000115 115 - - 115 115 - - 230 - - - 690 1 3 Late Charges5295-00002,650 2,650 2,550 1,750 2,600 2,600 2,600 2,600 2,600 2,600 2,600 2,600 30,400 47 141 Month-to-Month Fees5320-0000- - - - - - - - - - - - - - - NSF Check Fees5325-0000150 400 50 50 150 250 150 150 400 150 150 150 2,200 3 10 Pet Fees5330-0000200 - 200 - - - 200 600 300 200 200 3,200 5,100 8 24 Premium Fees5335-00002,160 2,160 2,160 2,160 2,160 2,160 2,160 2,160 2,160 2,160 2,160 2,160 25,920 40 120 Relet/Cancellation Fees5340-0000800 400 400 1,600 1,600 400 400 400 3,000 1,000 400 3,600 14,000 22 65 Reservation Fees5350-0000- - - - - - - - - - - - - - - Sublease Fee5366-0000- - - - - - - - - - - - - - - Storage Income5365-0000- - - - - - - - - - - - - - - Transfer Fees5375-0000450 - - - - - - - - - - - 450 1 2 Vending Income5390-000010 10 10 10 10 10 10 10 10 10 10 10 120 0 1 Miscellaneous Income5315-0000200 200 200 200 200 200 200 200 200 200 200 200 2,400 4 11 RUBS Income - Electric5370-0100- - - - - - - - - - - - - - - RUBS Income - Water5370-0300- - - - - - - - - - - - - - - Interest Income5285-0000- - - - - - - - - - - - - - - Total Other Operating Income14,337 7,781 7,450 7,073 8,665 7,265 7,250 7,650 11,230 7,950 7,550 18,250 112,451 174 521 3.1%EFFECTIVE GROSS INCOME286,953 281,981 281,828 283,143 281,982 282,426 283,346 283,746 283,336 280,635 271,721 274,847 3,375,944 5,210 15,629 Account Descriptions6/29/20166/29/2016Page 1of7 Town LakeAustin, TX 787412016-2017 Town Lake Budget216 = Units$0648 = Beds208,080 = Sq FtG/L2016-2017Cost per Cost perCodesSep-16Oct-16Nov-16Dec-16Jan-17Feb-17Mar-17Apr-17May-17Jun-17Jul-17Aug-17ForecastBedUnitAccount Descriptions6/29/201692.1%OPERATING EXPENSESGeneral & AdministrativeAudit6002-0200- - - - 10,250 - - - - - - - 10,250 16 47 Legal6002-030025,000 25,600 25,000 25,000 25,600 25,000 25,000 25,600 26,500 25,000 25,600 25,000 303,900 469 1,407 Bank Charges/Fees6005-0000554 554 554 554 554 554 554 554 554 554 554 554 6,647 10 31 Data Processing/Computer Expense6030-0000521 521 521 521 521 521 521 791 521 521 521 521 6,522 10 30 Collection & Eviction Processing6020-0000- 450 - 450 - 450 - 450 - 450 - 450 2,700 4 13 Resident Screening6095-0000200 200 100 150 200 300 400 500 1,000 1,000 1,000 - 5,050 8 23 Dues & Subscriptions6035-0000155,000 - - - - - - - - - - - 155,000 239 718 Equipment & Supplies 6045-0000 950 950 950 950 950 950 950 950 950 950 950 950 11,400 18 53 Postage & Delivery6070-0000315 315 315 315 315 315 315 315 315 315 315 315 3,780 6 18 Licenses, Fees & Permits6060-0000- 800 - 100 500 - - 400 - 400 400 - 2,600 4 12 Professional Fees6080-0000- 900 - - 900 - - 900 - - 900 - 3,600 6 17 Rent Refunds - Residents6090-00003,000 - - - - - - - - - - - 3,000 5 14 Telephone6105-0000815 815 815 815 815 815 815 815 815 815 815 815 9,780 15 45 Telephone-Answering Service6110-0000165 265 165 165 265 165 165 265 165 165 265 165 2,380 4 11 Training6115-0000669 219 69 69 219 2,419 69 219 669 69 1,219 69 5,978 9 28 Travel 6120-0000- 2,100 - - 2,100 - - 2,100 - - 2,100 - 8,400 13 39 Uniforms6135-0000260 660 260 260 260 260 660 260 260 260 260 260 3,920 6 18 Miscellaneous6065-0000200 200 200 200 200 200 200 200 200 200 200 200 2,400 4 11 Total General & Administrative187,649 34,549 28,949 29,549 43,649 31,949 29,649 34,319 31,949 30,699 35,099 29,299 547,307 845 2,534 16.2%Payroll & BenefitsOffice Salaries6205-000017,846 16,846 25,269 16,846 16,846 16,846 16,846 16,846 25,269 16,846 16,846 20,346 223,494 345 1,035 Commissions6265-00008,115 - - - - - - 8,115 - - - - 16,230 25 75 Bonuses6260-0000- 7,200 - - - - - - - - - - 7,200 11 33 Maintenance6225-0000 9,900 8,400 12,599 8,400 8,400 8,400 8,400 8,400 12,599 8,400 8,400 10,900 113,195 175 524 Payroll Taxes6270-01004,034 3,650 4,260 2,840 2,840 2,840 2,840 3,753 4,260 2,840 2,840 3,515 40,513 63 188 Worker's Compensation6270-02003,586 3,245 3,787 2,525 2,525 2,525 2,525 3,336 3,787 2,525 2,525 3,125 36,012 56 167 Group Insurance6280-00001,520 1,520 1,520 1,520 1,520 1,520 1,520 1,520 1,520 1,520 1,520 1,520 18,240 28 84 Employee Recruiting6290-0000- 50 - 50 - 50 - 50 - 50 - 50 300 0 1 Employee Relations6295-0000- - - - - - - - - - 600 - 600 1 3 Total Payroll & Benefits45,001 40,910 47,435 32,180 32,130 32,180 32,130 42,019 47,435 32,180 32,730 39,455 455,785 703 2,110 13.5%Contract ServicesContract-Alarm/Monitoring-Intrusion/Fire6305-0000175 175 175 175 175 175 175 175 175 175 175 175 2,100 3 10 Contract-Bus Service6310-0000- - - - - - - - - - - - - - - Contract-Cleaning6315-0000- - - - - - - - - - - - - - - Contract-Elevator 6325-0000 - - - - - - - - - - - - - - - Contract - HVAC6335-0000- - - - - - - - - - - - - - - Contract - Fire/Safety6327-0000- - - - - - - - - - - - - - - Contract-Landscape Maintenance6340-00002,542 2,542 5,542 2,542 2,542 2,542 2,542 2,542 2,542 2,542 2,542 2,542 33,504 52 155 Contract-Other Contract Services6345-0000745 818 745 745 818 745 745 818 745 745 818 745 9,231 14 43 Contract-Parking6348-0000- - - - - - - - - - - - - - - Contract-Security/Patrol/Courtesy Officer6365-00002,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 24,000 37 111 Contract-Pest Control 6350-0000270 1,270 270 270 1,270 270 270 1,270 270 270 1,270 270 7,240 11 34 Contract-Pool6360-0000- - - - - - - - - - - - - - - Contract-Snow Removal6370-0000- - - - - - - - - - - - - - - Contract-Trash Removal6375-00003,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 3,350 20,200 31 94 Total Contract Services9,082 8,155 10,082 7,082 8,155 7,082 7,082 8,155 7,082 7,082 8,155 9,082 96,275 149 446 6/29/2016Page 2of7 Town LakeAustin, TX 787412016-2017 Town Lake Budget216 = Units$0648 = Beds208,080 = Sq FtG/L2016-2017Cost per Cost perCodesSep-16Oct-16Nov-16Dec-16Jan-17Feb-17Mar-17Apr-17May-17Jun-17Jul-17Aug-17ForecastBedUnitAccount Descriptions6/29/20162.9%Repairs & MaintenanceAppliances6410-0000400 400 400 400 400 400 400 400 400 400 400 2,400 6,800 10 31 Blind/Drapes6415-0000- 150 - - 150 - - 150 - - 150 500 1,100 2 5 Boilers6420-0000- 500 - - 500 - - 500 - - 500 - 2,000 3 9 Building - Interior6425-0100600 300 300 300 300 300 300 300 300 300 300 800 4,400 7 20 Building - Exterior6425-0200125 125 125 125 125 125 125 125 125 125 125 125 1,500 2 7 Common Areas6440-0000125 125 125 125 125 125 125 125 125 125 125 125 1,500 2 7 Doors/Windows6450-0000200 200 200 200 500 200 200 200 500 200 200 700 3,500 5 16 Electrical6455-0000200 800 200 200 800 200 200 800 200 200 800 200 4,800 7 22 Elevators6460-0000- - - - - - - - - - - - - - - Fencing & Gates6470-0000125 725 125 125 725 125 125 725 125 125 1,125 125 4,300 7 20 Fire/Safety6475-0000300 300 300 3,500 300 300 2,900 300 300 300 300 2,800 11,900 18 55 Generator6483-0000- - - - - - - - - - - - - - - Glass/Mirrors/Screens6485-0000- 150 - 150 - 150 - 150 - 150 - 650 1,400 2 6 HVAC6495-00001,550 1,950 750 750 1,750 750 950 2,350 1,550 1,550 2,550 1,550 18,000 28 83 Keys & Locks6500-0000200 200 200 200 200 200 200 200 200 200 1,700 2,200 5,900 9 27 Landscaping6510-0000- 2,000 - - 2,000 - - 2,000 - - 2,000 - 8,000 12 37 Lights, Fixtures, Light Bulbs6520-0000300 1,300 300 300 1,300 300 300 1,300 300 300 1,300 1,300 8,600 13 40 Miscellaneous6525-0000200 200 200 200 200 200 200 200 200 200 200 200 2,400 4 11 Painting6530-000050 50 50 50 50 50 2,450 50 50 50 50 50 3,000 5 14 Parking Lots & Sidewalks6535-0000100 100 100 100 100 100 100 100 100 100 100 100 1,200 2 6 Plumbing6540-0000325 2,325 325 325 2,325 325 325 2,325 325 325 2,325 325 11,900 18 55 Pools6545-0000425 425 425 425 425 425 425 425 425 425 425 425 5,100 8 24 Recreation6550-0000- - - - - - - - - - - - - - - Roofs6555-0000- 500 - - 500 - 2,000 500 - - 500 - 4,000 6 19 Signs6560-0000- 500 - - 500 - - 500 - - 500 - 2,000 3 9 Supplies6570-0000100 100 100 100 100 100 100 100 100 100 100 2,100 3,200 5 15 Tools6575-0000900 100 100 100 100 100 100 100 100 100 100 100 2,000 3 9 Water Treatment6580-0000- - - - - - - - - - - - - - - Total Repairs & Maintenance6,225 13,525 4,325 7,675 13,475 4,475 11,525 13,925 5,425 5,275 15,875 16,775 118,500 183 549 3.5%Make-Ready MaintenanceContract ServicesCarpet Cleaning/Repairs6610-000024,500 1,350 225 225 225 225 225 225 225 225 225 225 28,100 43 130 Cleaning6615-000027,350 - - - 265 - - - 265 - - - 27,880 43 129 Painting6635-000042,150 - - - 1,175 - - - 1,175 - - - 44,500 69 206 Total Make-Ready Contract Services94,000 1,350 225 225 1,665 225 225 225 1,665 225 225 225 100,480 155 465 SuppliesInterior Repairs6630-00003,500 - - - - - - - - - 1,000 1,000 5,500 8 25 Appliance Supplies6652-0000- - - - - - - - - - - 500 500 1 2 Cleaning Supplies6655-00001,000 - - - - - - - - - - 2,000 3,000 5 14 Paint Supplies6660-00002,000 25 25 25 25 25 25 25 25 25 25 2,000 4,250 7 20 Sheetrock6665-00001,250 - - - - - - - 500 - - 500 2,250 3 10 Total Make-Ready Supplies7,750 25 25 25 25 25 25 25 525 25 1,025 6,000 15,500 24 72 Total Make-Ready Maintenance101,750 1,375 250 250 1,690 250 250 250 2,190 250 1,250 6,225 115,980 179 537 6/29/2016Page 3of7 Town LakeAustin, TX 787412016-2017 Town Lake Budget216 = Units$0648 = Beds208,080 = Sq FtG/L2016-2017Cost per Cost perCodesSep-16Oct-16Nov-16Dec-16Jan-17Feb-17Mar-17Apr-17May-17Jun-17Jul-17Aug-17ForecastBedUnitAccount Descriptions6/29/20163.4%MarketingAdvertisingPrint6705-0200150 150 150 150 150 150 150 150 150 150 150 150 1,800 3 8 Publications6730-0000- - 1,500 - - - - - - 1,500 - - 3,000 5 14 Direct Mail6715-0000- - - 3,000 - - 3,000 - - - - - 6,000 9 28 Radio6705-0300- - - - - - - - - - - - - - - Signs6735-0000- 500 - - 400 - - 500 - - - - 1,400 2 6 Internet Ads 6720-00001,356 1,356 1,356 1,462 1,356 1,356 1,356 1,356 1,356 1,356 1,356 1,556 16,578 26 77 Other6748-0000- - - - - - - - - - - - - - - Total Advertising1,506 2,006 3,006 4,612 1,906 1,506 4,506 2,006 1,506 3,006 1,506 1,706 28,778 44 133 Other MarketingBrochures6750-0000 - - 3,000 - - - - - - - - - 3,000 5 14 Locator Fees6760-0000 - - - - - - - - - - - - - - - Portal Expense6770-0000100 100 100 100 100 100 100 100 100 100 100 100 1,200 2 6 Referral Fees6780-0000- - - - - - - - - - - - - - - Promotion & Events6775-000010,000 - - - - - - - - - - - 10,000 15 46 Resident Activities/Tenant Relations6790-00001,000 500 1,000 1,000 750 750 1,000 1,000 500 500 500 500 9,000 14 42 Websites6740-0000500 500 500 500 500 500 500 500 500 500 500 500 6,000 9 28 Total Other Marketing11,600 1,100 4,600 1,600 1,350 1,350 1,600 1,600 1,100 1,100 1,100 1,100 29,200 45 135 Total Marketing13,106 3,106 7,606 6,212 3,256 2,856 6,106 3,606 2,606 4,106 2,606 2,806 57,978 89 268 1.7%Cable & InternetCable TV6805-00003,942 3,942 3,942 3,942 3,942 3,942 3,942 3,942 3,942 3,942 3,942 3,942 47,304 73 219 Internet6825-00009,402 9,402 9,402 9,402 9,402 9,402 9,402 9,402 9,402 9,402 9,402 9,402 112,830 174 522 Total Cable / Internet 13,344 13,344 13,344 13,344 13,344 13,344 13,344 13,344 13,344 13,344 13,344 13,344 160,134 247 741 4.7%UtilitiesElectricityElec-Common Area6910-01002,500 2,900 3,000 2,000 2,900 3,600 2,500 2,500 2,885 3,628 4,886 5,740 39,039 60 181 Elec-Residential Units 6910-0200 - - - - - - - - - - - - - - - Elec-Vacant Units6910-09001,560 1,200 960 720 960 720 480 480 960 1,200 1,200 1,200 11,640 18 54 Total Electricity4,060 4,100 3,960 2,720 3,860 4,320 2,980 2,980 3,845 4,828 6,086 6,940 50,679 78 235 Other Utilities- - Gas6920-0000100 150 150 200 200 200 150 150 100 100 100 100 1,700 3 8 Water / Sewer6930-000044,450 57,420 39,680 48,150 38,400 35,310 35,420 41,860 44,800 41,470 31,900 41,470 500,330 772 2,316 Utility Billing Fee6950-0000- - - - - - - - - - - - - - - Total Other Utilities44,550 57,570 39,830 48,350 38,600 35,510 35,570 42,010 44,900 41,570 32,000 41,570 502,030 775 2,324 Total Utilities48,610 61,670 43,790 51,070 42,460 39,830 38,550 44,990 48,745 46,398 38,086 48,510 552,709 853 2,559 16.4%Management Fees6990-000011,478 11,279 11,273 11,326 11,279 11,297 11,334 11,350 11,333 11,225 10,869 10,994 135,038 208 625 Asset Management Fees8915-00002,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 28,800 44 133 6/29/2016Page 4of7 Town LakeAustin, TX 787412016-2017 Town Lake Budget216 = Units$0648 = Beds208,080 = Sq FtG/L2016-2017Cost per Cost perCodesSep-16Oct-16Nov-16Dec-16Jan-17Feb-17Mar-17Apr-17May-17Jun-17Jul-17Aug-17ForecastBedUnitAccount Descriptions6/29/20164.0%TaxesProperty Taxes7005-0000- - - - - - - - - - - - - - - Personal Property Taxes7010-0000- - - - - - - - - - - - - - - Property Tax Consultant7020-0000- - - - - - - - - - - - - - - Franchise Taxes7060-0000- - - - - - - - - - - - - - - Total Taxes- - - - - - - - - - - - - - - 0.0%InsuranceIns-Property & Casualty Insurance7105-01004,529 4,529 - - - - - - 22,907 4,665 4,665 4,529 45,825 71 212 Total Insurance4,529 4,529 - - - - - - 22,907 4,665 4,665 4,529 45,825 71 212 1.4%TOTAL OPERATING EXPENSES443,174 194,843 169,454 161,088 171,839 145,663 152,370 174,359 195,417 157,625 165,079 183,419 2,314,329 3,571 10,714 68.6%(156,221) 87,138 112,373 122,055 110,144 136,763 130,976 109,388 87,919 123,011 106,642 91,428 1,061,615 1,638 4,915 31.4%Debt ServiceInterest Expense7210-0000- - - - - - - - - - - - - - - Ground Lease7270-0000- - - - - - - - - - - - - - - Mortgage Principal2900-0000134,000 134,000 134,000 134,000 134,000 134,000 134,000 134,000 134,000 134,000 134,000 134,000 1,608,000 2,481 7,444 Total Interest / Financing Costs134,000 134,000 134,000 134,000 134,000 134,000 134,000 134,000 134,000 134,000 134,000 134,000 1,608,000 2,481 7,444 47.6%Capital ImprovementsAppliances8315-02002,000 - - 2,000 - - 2,000 - - 2,000 - 2,000 10,000 15 46 Washer/Dryer8315-02802,000 - - 2,000 - - 2,000 - - 2,000 - 2,000 10,000 15 46 Blinds8315-04002,500 - - - - - - - - - - - 2,500 4 12 Carpet/Vinyl/Tile8315-100038,470 - - - - - - - - - - - 38,470 59 178 Furniture8315-5000- - - - - - - 25,000 - - - 25,000 50,000 77 231 Total Recurring Capital44,970 - - 4,000 - - 4,000 25,000 - 4,000 - 29,000 110,970 171 514 NET OPERATING INCOME (LOSS) BEFORE DEBT SERVICE & CAPITAL 6/29/2016Page 5of7 Town LakeAustin, TX 787412016-2017 Town Lake Budget216 = Units$0648 = Beds208,080 = Sq FtG/L2016-2017Cost per Cost perCodesSep-16Oct-16Nov-16Dec-16Jan-17Feb-17Mar-17Apr-17May-17Jun-17Jul-17Aug-17ForecastBedUnitAccount Descriptions6/29/20163.3%Capital Improvements - Non RecurringAlarms/Access Systems8315-0100- - - - - - - - - - - - - - - Bldg Impr - Bathroom Renovations8315-0300- - - - - - - - - - - - - - - Boilers8315-0500- - - - - - - - - - - - - - - Building8315-0600- - - - - - - - - - - - - - - Building - Exterior8315-0700- - - - - - - - - - - - - - - Building - Interior8315-0800- - - - - - - - - - - - - - - Building - Structural8315-0900- - - - - - - - - - - - - - - Clubhouse/Model8315-1200- - - - - - - - - - - - - - - Carports8315-1100- - - - - - - - - - - - - - - Computers8315-4000- - - - - - - - - - - - - - - Countertop/Sink/Cabinets8315-1400- - - - - - - - - - - - - - - Doors & Related Hardware8315-1500- - - - - - - - - - - - - - - Electrical8315-1600- - - - - - - - - - - - - - - Elevators8315-1700- - - - - - - - - - - - - - - Equipment (Office & Maintenance)8315-5100- - - - - - - - - - - - - - - Fencing & Gates8315-1800- - - - - - - - - - - - - - - Fire/Safety8315-1900- - - - - - - - - - - - - - - Glass, Mirrors & Screens8315-2000- - - - - - - - - - - - - - - Golf Cart8315-8100- - - - - - - - - - - - - - - HVAC8315-2100- - - - - - - - - - - - - - - Keys & Locks8315-2200- - - - - - - - - - - - - - - Landscaping8315-2300- - - - - - - - - - - - - - - Light Fixtures8315-2500- - - - - - - - - - - - - - - Miscellaneous8315-2700- - - - - - - - - - - - - - - Painting (Exterior)8315-2900- - - - - - - - - - - - - - - Parking Lot & Sidewalks8315-3000- - - - - - - - - - - - - - - Personal Property8315-8000- - - - - - - - - - - - - - - Plumbing8315-3100- - - - - - - - - - - - - - - Pools8315-3200- - - - - - - - - - - - - - - Pool Furniture8315-5900- - - - - - - - - - - - - - - Recreation/Amenity Areas8315-3300- - - - - - - - - - - - - - - Renovations (Units)8315-3400- - - - - - - - - - - - - - - Roofs8315-3600- - - - - - - - - - - - - - - Signage8315-3700- - - - - - - - - - - - - - - Site Improvements8315-3800- - - - - - - - - - - - - - - Tenant Improvements8315-3900- - - - - - - - - - - - - - - Tubs/Showers8315-3950- - - - - - - - - - - - - - - Total Non Recurring Capital- - - - - - - - - - - - - - - 0.0%Escrow AccountsTax Reserve1080-0100- - - - - - - - - - - - - - - Tax Funding1080-0100- - - - - - - - - - - - - - - Insurance Reserve1080-0300- - - - - - - - - - - - - - - Insurance Reserve Funding1080-0300- - - - - - - - - - - - - - - Replacement Reserve1080-0400- - - - - - - - - - - - - - - Replacement Reserve Reimb.1080-0400- - - - - - - - - - - - - - - Net Escrow Activity- - - - - - - - - - - - - - - 6/29/2016Page 6of7 Town LakeAustin, TX 787412016-2017 Town Lake Budget216 = Units$0648 = Beds208,080 = Sq FtG/L2016-2017Cost per Cost perCodesSep-16Oct-16Nov-16Dec-16Jan-17Feb-17Mar-17Apr-17May-17Jun-17Jul-17Aug-17ForecastBedUnitAccount Descriptions6/29/20160.0%Other ExpensesAccounting / Audit / Tax8905-0000- - - - - - - - - - - - - - - Administrative Expense8910-0000- - - - - - - - - - - - - - - Prior Year Operating Expenses8965-0000- - - - - - - - - - - - - - - Legal/LLC fees8950-0000- - - - - - - - - - - - - - - Travel8995-0000- - - - - - - - - - - - - - - Start Up Cost8983-0000- - - - - - - - - - - - - - - Miscellaneous8960-0000- - - - - - - - - - - - - - - Total Other Expenses- - - - - - - - - - - - - - - 0.0%INCOME (LOSS) Before Depr / Amort(335,191) (46,862) (21,627) (15,945) (23,856) 2,763 (7,024) (49,612) (46,081) (14,989) (27,358) (71,572) (657,355) (1,014) (3,043) Distribution Payments4201-0000- - - - - - - - - - - - - - - 0.0%MONTHLY CASH FLOW(335,191) (46,862) (21,627) (15,945) (23,856) 2,763 (7,024) (49,612) (46,081) (14,989) (27,358) (71,572) (657,355) (1,014) (3,043) -19.5%Cumulative Cash Flow Estimate(335,191) (382,053) (403,680) (419,624) (443,480) (440,717) (447,741) (497,354) (543,435) (558,424) (585,783) (657,355) (657,355) 6/29/2016Page 7of7